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In Monday's post Trend Radar 2008: SaaS in the Enterprise, I mentioned that Omniture (OMTR), with its specialized application of Web Performance Management is gaining ground rapidly in the enterprise.

According to a recent report published by IDC, the Web analytics software market reached $397.5 million in 2006, a growth of 25%. Over the next five years, it is expected to continue growing at a rate of 16.1%. Web Analytics is increasingly becoming a critical function in this web-centric world, and Omniture is the category leader.

In an earlier post, I looked at how its services align with the Software-As-A-Service (SaaS) and Extended Enterprise [EE] trends of Enterprise 3.0.

2007 saw Omniture acquire four companies. In the earlier part of the year, it acquired Danish company Instadia and Touch Clarity, a behavioral targeting specialist. In September, it acquired Offermatica, an on-demand A/B testing and multivariate testing company for $65 million. In October, it acquired Visual Sciences, a provider of real-time analytics applications for $394 million.

For Q3 2007 that ended September 30, 2007, its revenue was $37.4 million, up 78% y-o-y and 12% sequentially. Its GAAP net loss was $1.1 million or $0.02 per diluted share, compared to a net loss of $1.3 million, or $0.03 per diluted share, in Q3 2006. Omniture’s more than 2,700 customers include ABN Amro (ABN), AOL, Center Parcs, eBay (NASDAQ:EBAY), Thomas Cook, Vodafone (NASDAQ:VOD), Waitrose and Yell.com. Its stock is currently trading around $29, and its market cap is around $1.8 billion. It reached its 52-week high of $38.57 on October 26.

Like Concur (NASDAQ:CNQR), Omniture is a beneficiary of the SaaS adoption, and for the moment, a victim of the market’s skittishness.

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Source: Omniture’s SaaS Offering is Critical to the Web’s Future